WD-40 Co. (WDFC) Tops Q1 EPS by 3c, Sales Miss
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WD-40 Co. (NASDAQ: WDFC) reported Q1 EPS of $0.83, $0.03 better than the analyst estimate of $0.80. Revenue for the quarter came in at $92.5 million versus the consensus estimate of $97.48 million.
WD-40 Co. sees FY2016 EPS of $3.30-$3.37, versus the consensus of $3.32. WD-40 Co. sees FY2016 revenue of $393-401 million, versus the consensus of $401.1 million.
"Although foreign currency exchange rate fluctuations negatively impacted our reported sales, we continue to see maintenance product sales growth in local currencies in nearly all our markets," said Garry Ridge, WD-40 Company's president and chief executive officer. "Our European markets, in particular, continue to be heavily impacted by the weakening of the euro against the pound sterling as well as the strength of the U.S. dollar. When we remove all foreign currency exchange rate impacts, we grew consolidated sales by about half a percentage point which is a little lighter than we would have liked to see. This was caused by the timing of customer orders and promotional activities as well as unstable market conditions in Russia. While we expect we will continue to see fluctuations in the performance of certain markets quarter to quarter, our long-term growth plans remain unchanged," continued Ridge.
For earnings history and earnings-related data on WD-40 Co. (WDFC) click here.
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